Is this "depression" as bad as the others we have had in the past?

In this time of economic struggle, I have heard many people say we are only going to lose more and that it is going to be harder than any other depression we have ever had... is this true or people just finding a way to describe their economic woes?

The west has been in recession since the early 1970's - the periods that economists and the media claim as any kind of "not being in depression" are just short spikes of apparent recovery.

There is a major flaw in world economics in its basic premise that the base quantity of all the economies will always continue to expand - patent bull@@it that nobody seems willing to address. This thinking arose in the dawn of modern economics with colonisation - where the base 'quantity' or sum total did expand. Colonisation is largely over - except for the American model of colonisation by franchise and 'global' companies.

It is time economists shed their super rich riders and tell it like it is and start planning for balanced economics where gobal corporations become unworkeable and local industry and business becomes the norm again.

The most simple and obvious example is the bacon in your superstore that grew in one country, got processed in another, packaged in another and sold in another. Versus the bacon in my local market that grows within earshot, is processed less than 1 kilometer up the road and is sold in my next door market. No vast quantities of fuel to drive it, train it, fly it, no overdose of suspicious chemicals to make it last long enough to get half way around the world, no corporation putting all the small players out of the game by underpricing until they have control of the whole market. Same goes for everything you buy and consume.

Ohh... *frowny face* ... that's umm... Anyways, depressions in the economy are bad, and it doesn't look like the US is doing anything to solve their debts. In fact, they are trying to keep Japan's economy stable because they invested money over there, (Toyota, Honda, etc.)

So, unless a genie comes along and came magically erases the trillions of dollars in deficits, I think that the US will be in this depression for a long time. But, hey, it is all matter of supply and demand, and the supply is dropping like a rock...

I have to say it is worse than ever; the governments have a very twisted set of priorities and their first priority is POWER. The U.S. government says we're broke, but, continue to print money to fund an illegal war we cannot afford, they continue to cut funding to programs designed to keep our elderly and disabled taken care of, and off the streets, but, somehow manage to shit a few million to send to foreign countries under the guise of 'foreign aid'.

When a government's priorities mean outside nations' welfare takes precedence over their own countrymen, it's time to get rid of them.

Remember, politicians are like diapers; they must be changed often and for the same reasons.

That is what analysts are saying so that the general public aren't scared into withdrawing their stocks and cashing out.

It all actuality, the entire world is in a depression. Global markets are dropping and there isn't anything anyone can do about it. But, if the general public knew about this then consumer spending would decline and then the US and world economy would be in big trouble.

To answer your question Phoebe, yes. The "great" depression of the thirties has an impact but, mostly on the US. This depression, recession, (whatever you want to call it), is having an impact on the world. Our connectivity is slowly killing us, due to the fact that not all economies are created equal.

I think the word "depression" originated from pressing into a flat surface and creating a dent. Now - going from the higher level of a flat road into the dent, that is what is referred to as going into a depression.The little picture makes one assumption, the assumption of always being a way out of of the dent, out of depression. Is that so?I don´t think so. What if there is no dent but the whole economic road is permanently deformed (lets say by other emerging economic heavyweights like China or India). Then of course the dent, the depression pit cannot be filled with monetary means to ease the way out of the depression.Signs are strong that things will not recover. So this is no depression, no bump in the economic road, it is a permanent situation and better adjust to it.

Related Discussions

Funding for our country's children is being cut, but we allow a hedge fund manager to make enough money to pay the salaries of every public school teacher in New York City. Most of his earnings are taxed at a rate less than that of his secretary.We haven't been able to do anything about it because...

"WASHINGTON (AFP) – The US economy is "gradually" improving after the financial crisis, US Treasury Secretary Timothy Geithner said in an interview on NBC News' "Meet the Press" program, to be broadcast Sunday."Gee that means a lot coming from the incompetent...

http://spectator.org/archives/2011/05/1 … economics/Sadly too many here believe as Jesses Jackson Jr. does. Luckily for us they aren't in congress too. His ideas teach us a couple of lessons, that elected and educated people in government are not the best and brightest nor are they correct...

In 20 years, the history books will call this the 2nd depression. We are in a liquidity trap, according to Paul Krugman, nobel-prize economist. That’s central to the problem. “The term liquidity trap is used in Keynesian economics to refer to a situation where monetary policy is unable to...

If you think this government is working. Please explain to anyone why the average person earns less wages today, than 35 years ago? Why is the cost of living gone up ten times? Most people do not like their jobs or find it unsustainable along with housing and dealt. It gets worst, by the time...

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

This is used to display charts and graphs on articles and the author center. (Privacy Policy)

Google AdSense Host API

This service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)

This is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)

Facebook Login

You can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)

Maven

This supports the Maven widget and search functionality. (Privacy Policy)

We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.

Conversion Tracking Pixels

We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.

Statistics

Author Google Analytics

This is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)

Comscore

ComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)

Amazon Tracking Pixel

Some articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)